Shared Ownership - Being bought out

DullGreyGuy

Presumably you are not married?

50/50 share of current value less mortgage isn't a bad position but it is ultimately a negotiation. Worst case is you cannot agree so have to sell which give you a real property valuation rather than estimated but from that you have to pay selling costs and potentially early mortgage redemption meaning you may end up with less. 

How you get to the property value without actually selling it is always going to be subjective. A valuation for a remortgage may or may not be the best route. Friends who split up agreed to invite 3 estate agents to give a realistic sale value and use the middle one as the basis of their calculations but equally they could have used the average of them

Bookworm105

ChocoLabbo said:

The house in 2019 was worth £285,000. We got a 30% share of the house which was £85,500 and we got a mortgage for £81,225.00 with a £4,275 deposit that we put down together, I can't remember how we split the deposit.

The valuation we had done by the mortgage company (who are handling the transfer of equity) with a RICS surveyor valued the house at the same price as in 2019. 
In our latest mortgage statement as of December we had a mortgage balance of £72,523.44

From what I understand our 30% should be worth £85,500, so after deducting the mortgage balance (£72,523.44) it should leave £12,976.56 of equity. Which would mean I should be owed £6,488.28? 

Do I take off the deposit before halfling the remaining equity?

if you have no idea how the deposit was split then by ignoring it you are potentially distorting how the £12.9k equity is to be split.
It may not be a straight 50/50 since 4,725 of that equity is the original deposit

GDB2222

Bookworm105 said:

ChocoLabbo said:

The house in 2019 was worth £285,000. We got a 30% share of the house which was £85,500 and we got a mortgage for £81,225.00 with a £4,275 deposit that we put down together, I can't remember how we split the deposit.

The valuation we had done by the mortgage company (who are handling the transfer of equity) with a RICS surveyor valued the house at the same price as in 2019. 
In our latest mortgage statement as of December we had a mortgage balance of £72,523.44

From what I understand our 30% should be worth £85,500, so after deducting the mortgage balance (£72,523.44) it should leave £12,976.56 of equity. Which would mean I should be owed £6,488.28? 

Do I take off the deposit before halfling the remaining equity?

if you have no idea how the deposit was split then by ignoring it you are potentially distorting how the £12.9k equity is to be split.
It may not be a straight 50/50 since 4,725 of that equity is the original deposit

That should all have been agreed upon at the time of purchase, and there ought to be a document setting it out. The OP says that there is no deed, so the starting point should be 50/50.